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European banks embrace Swift gpi

The French bank recently launched Swift gpi in Germany, Belgium, Spain, Italy, Netherlands, the UK, Switzerland, Hong Kong and Singapore. It was one of the early adopters of the...

Call for unity on payments fraud reporting

Account servicing payment service providers (ASPSPs) across the EU are implementing national transpositions of the Euro Banking Association’s (EBA’s) Guidelines on Fraud Reporting under PSD2. However, an updated version...

Swift API acknowledges pay later consumer trend

The publication of a ‘Pay Later’ API standard by Swift is further evidence of the ‘componentisation’ of payments, Lu Zurawski, practice lead for retail banking products at ACI Worldwide, said. In January, Swift published an API standard to support the increasingly popular Pay Later online payment facility.

Swift gpi sets milestone

More than $40 trillion was transferred over Swift’s global payments innovation (gpi) system during 2018, Swift has announced. The share of cross-border messaging using gpi rose from 15% at the start of 2018 to 56% by the end of the year. More than 3500 banks, accounting for 85% of Swift’s total payments traffic have committed to adopting gpi.

Blockchain becomes a ‘standards play’

Two recent developments – one a proof of concept, the other a system that has been in operation for a year – suggest blockchain technology is becoming widely accepted in day-to-day operations. Heather McKenzie reports